It can be blitzed, yeah, but the enemy needs to be pretty bloody careful to do it - Maya can be a complete ass to get around and Kyogre's durable as hell. The main issues with blitzing will come later on, yeah.
There are two primary issues; one of the healers (Maya) lacks status healing (Yeah. There's one spell in P2 that does this. All of one person has any argument for it in the DL, and that's Ulala.). The other is the durability pre-buffing.
Maya's average speed or higher (good Personas for magic/speed, the men are all slugs, but Ulala breaks averages), Cristo/Pikachu/Kyogre are also above average by varying amounts. Raja's the one slug. Still, yeah, a faster team can manage it. (Slower teams dislike the amount of stat nerfing I can do pretty bloody quick.)
It was mainly built on "Okay, I'm a Persona 2 Maya fanboy. But her damage isn't as impressive as I'd like early on... Well, Kyogre boosts that! Kyogre's drizzle... also nerfs Fire and boosts Lightning accuracy. Wait, not Lightning, just Thunder. ...Pikachu gets Thunder, but I'm pretty sure he sucks in a te- wait, Growl and Tail Whip are MT? And he gets Light Screen? Huh. So those three... Well, I need a good pair with my remaining 3.0, none of the 1.5s look terribly appealing aside from Crowley whom I'm already using... Huh, Cristo get anything aside from healing and Upper? Status? Okay, he works. And... a 1.0. ... Hell, I'm not fond of Raja in the dungeon, but here I can hype DRIZZLE neutralizing his weakness. So um, yeah, he's in I guess."